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Dismissals Ponzi Scheme

King & Spalding

Fifth Circuit Finds That New Jersey’s Discovery Rule Applies If Identity of a Specific Defendant Was Not Known Until After the...

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On December 15, 2022, the U.S. Court of Appeals for the Fifth Circuit reversed the pleading-stage dismissal, as time-barred, of a case against Bank of New York Mellon by defrauded investors in the Allen Stanford Ponzi scheme....more

King & Spalding

Eighth Circuit Holds That Lender Lacks Standing to Assert Claims Against Other Lender

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On September 13, 2022, the U.S. Court of Appeals for the Eighth Circuit affirmed dismissal of claims for fraudulent transfer and aiding and abetting a Ponzi scheme brought by one lender to a series of companies owned by Tom...more

Foley Hoag LLP - White Collar Law &...

In Deciding Tortious Aiding and Abetting Claims, MA Federal Court Finds Routine Provision of Banking Services May Amount to...

On August 31, 2022, in a lengthy order, Judge Timothy Hillman of the U.S. District Court of Massachusetts denied motions to dismiss that were filed by multiple defendant banks (the “Banks”) in an attempt to avoid liability...more

Goodwin

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

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IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

Goodwin

Ninth Circuit Holds Loss Causation May Be Predicated on Information Potentially Available Under Freedom of Information Act

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Ninth Circuit Holds Loss Causation May Be Predicated on Information Potentially Available Under Freedom of Information Act; D.C. Circuit Upholds FINRA’s Permanent Ban of Broker Accused of Misconduct After Finding SCOTUS...more

Goodwin

California Federal Court Denies Motion to Dismiss Securities Class Action Arising from Uber’s IPO

Goodwin on

California Federal Court Denies Motion to Dismiss Securities Class Action Arising from Uber’s IPO; S.D.N.Y. Dismisses Ponzi Scheme Action Against HSBC Hong Kong for Lack of Personal Jurisdiction; Delaware Court of Chancery...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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With new data pointing to similarities between the Lion Air and Ethiopian Air Boeing 737 Max 8 crashes, the White House has decided to override the FAA and ground all models of the plane in the US....more

Skadden, Arps, Slate, Meagher & Flom LLP

Second Circuit Allows Avoidance Actions Against Foreign Transferees in Madoff Proceeding

On February 25, 2019, the U.S. Court of Appeals for the Second Circuit vacated the bankruptcy court’s dismissal of avoidance actions brought by Irving Picard, the trustee (Trustee) for the liquidation of Bernard L. Madoff...more

UB Greensfelder LLP

Ohio Supreme Court Clarifies the Definition of “Participating in or Aiding” Securities Fraud

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In a recent landmark decision, the Ohio Supreme Court declared that R.C. 1707.43 does not impose joint and several liability on a custodian of a self-directed individual retirement account (IRA) that purchased illegal...more

Perkins Coie

Blockchain Week in Review – April 2017 #2

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Bass, Berry & Sims PLC

Chris Lazarini Discusses Dismissal of Madoff "Winner's" ERISA Claim

Bass, Berry & Sims attorney Chris Lazarini discussed a case in which a pension fund, a "net winner" in the Madoff Ponzi scheme, filed an ERISA action against its investment adviser seeking to recover "lost opportunity"...more

Katten Muchin Rosenman LLP

Southern District of New York Dismisses Complaint Against Madoff-Invested Fund

The US District Court for the Southern District of New York dismissed a complaint against J. Ezra Merkin and Gabriel Capital Corporation (together, Defendants), which together managed Ascot Fund Limited (Ascot), an offshore...more

Thomas Fox - Compliance Evangelist

Bad Things Come In Threes For CCOs

It is often said that bad things come in threes. I have often wondered where this phrase came from. ...more

Katten Muchin Rosenman LLP

Second Circuit Affirms Dismissal of Madoff Trustee’s Common Law Claims

The US Court of Appeals for the Second Circuit affirmed the district court’s dismissal of common law claims brought by Irving H. Picard (Trustee), trustee for Bernard L. Madoff Investment Securities (BLMIS), against several...more

Katten Muchin Rosenman LLP

District of Colorado Dismisses, in Part, Securities Fraud Claims in Ponzi Scheme Suit

The US District Court for the District of Colorado considered several motions to dismiss a class-action suit filed by plaintiff Touchtone Group, LLC to recover damages resulting from a Ponzi scheme devised by Mantria...more

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